Cullinan Therapeutics (NASDAQ:CGEM) Major Shareholder Lynx1 Capital Management Lp Acquires 51,500 Shares

Cullinan Therapeutics, Inc. (NASDAQ:CGEM) major shareholder Lynx1 Capital Management Lp purchased 51,500 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were bought at an average price of $7.94 per share, with a total value of $408,910.00. Following the purchase, the insider owned 8,615,616 shares in the company, valued at $68,407,991.04. The trade was a 0.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Lynx1 Capital Management Lp also recently made the following trade(s):

• On Friday, October 17th, Lynx1 Capital Management Lp bought 32,217 shares of Cullinan Therapeutics stock. The stock was purchased at an average cost of $7.84 per share, with a total value of $252,581.28.
• On Thursday, October 16th, Lynx1 Capital Management Lp bought 150,000 shares of Cullinan Therapeutics stock. The stock was purchased at an average price of $8.86 per share, for a total transaction of $1,329,000.00.
• On Tuesday, October 14th, Lynx1 Capital Management Lp purchased 15,032 shares of Cullinan Therapeutics stock. The shares were purchased at an average price of $7.59 per share, with a total value of $114,092.88.
• On Friday, October 10th, Lynx1 Capital Management Lp acquired 277,298 shares of Cullinan Therapeutics stock. The stock was purchased at an average cost of $7.36 per share, with a total value of $2,040,913.28.
• On Thursday, October 9th, Lynx1 Capital Management Lp acquired 626,043 shares of Cullinan Therapeutics stock. The shares were acquired at an average cost of $6.70 per share, for a total transaction of $4,194,488.10.
• On Wednesday, October 8th, Lynx1 Capital Management Lp bought 556,300 shares of Cullinan Therapeutics stock. The shares were acquired at an average price of $6.46 per share, with a total value of $3,593,698.00.

Cullinan Therapeutics Stock Down 0.9%

CGEM opened at $8.48 on Wednesday. The firm has a 50-day moving average price of $7.03 and a 200-day moving average price of $7.63. Cullinan Therapeutics, Inc. has a twelve month low of $5.68 and a twelve month high of $17.50. The company has a market capitalization of $500.91 million, a price-to-earnings ratio of -2.63 and a beta of -0.12.

Cullinan Therapeutics (NASDAQ:CGEM) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.24). On average, sell-side analysts expect that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its position in Cullinan Therapeutics by 44.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,182 shares of the company’s stock valued at $62,000 after purchasing an additional 2,523 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Cullinan Therapeutics by 3.9% in the second quarter. Rhumbline Advisers now owns 74,105 shares of the company’s stock worth $558,000 after buying an additional 2,767 shares during the period. Tema Etfs LLC raised its holdings in Cullinan Therapeutics by 9.0% during the 2nd quarter. Tema Etfs LLC now owns 42,692 shares of the company’s stock valued at $321,000 after buying an additional 3,528 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Cullinan Therapeutics by 42.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 14,107 shares of the company’s stock valued at $107,000 after buying an additional 4,216 shares during the period. Finally, Brooklyn Investment Group bought a new stake in Cullinan Therapeutics in the 1st quarter worth $34,000. 86.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CGEM. Morgan Stanley decreased their price objective on Cullinan Therapeutics from $35.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, August 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cullinan Therapeutics in a research report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and issued a $24.00 price objective on shares of Cullinan Therapeutics in a research report on Friday, September 12th. Zacks Research raised shares of Cullinan Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, BTIG Research reiterated a “buy” rating and issued a $32.00 target price on shares of Cullinan Therapeutics in a research note on Wednesday, September 10th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cullinan Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Cullinan Therapeutics Company Profile

Cullinan Therapeutics, Inc, a biopharmaceutical company, focuses on developing oncology therapies for cancer patients in the United States. The company's lead program comprises CLN-619, a monoclonal antibody that is in Phase I clinical trial for the treatment of solid tumors. Its development portfolio also includes CLN-049, a humanized bispecific antibody that is in Phase I clinical trial for the treatment of acute myeloid leukemia or myelodysplastic syndrome; CLN-418, a human bispecific immune activator that is in Phase 1 clinical trial for the treatment of multiple solid tumors; and Zipalertinib, a bioavailable small-molecule for treating patients with non-small cell lung cancer.